OFG Bancorp (NYSE:OFG) CEO Sells $193,247.04 in Stock

OFG Bancorp (NYSE:OFG) CEO Jose Rafael Fernandez sold 4,768 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $40.53, for a total transaction of $193,247.04. Following the completion of the sale, the chief executive officer owned 209,907 shares in the company, valued at approximately $8,507,530.71. This trade represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Jose Rafael Fernandez also recently made the following trade(s):

• On Wednesday, November 12th, Jose Rafael Fernandez sold 25,232 shares of OFG Bancorp stock. The shares were sold at an average price of $40.95, for a total value of $1,033,250.40.

OFG Bancorp Stock Up 0.8%

Shares of NYSE:OFG traded up $0.33 during midday trading on Wednesday, reaching $40.78. 307,989 shares of the company were exchanged, compared to its average volume of 307,117. The stock has a fifty day simple moving average of $42.23 and a two-hundred day simple moving average of $42.51. OFG Bancorp has a fifty-two week low of $33.15 and a fifty-two week high of $47.66. The firm has a market cap of $1.82 billion, a PE ratio of 9.27 and a beta of 0.84. The company has a quick ratio of 0.87, a current ratio of 0.85 and a debt-to-equity ratio of 0.33.

OFG Bancorp (NYSE:OFG) last issued its quarterly earnings results on Wednesday, October 22nd. The bank reported $1.16 earnings per share for the quarter, hitting the consensus estimate of $1.16. The company had revenue of $184.00 million during the quarter, compared to analysts’ expectations of $186.71 million. OFG Bancorp had a net margin of 22.26% and a return on equity of 15.18%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the business earned $1.00 EPS. As a group, sell-side analysts forecast that OFG Bancorp will post 4.18 earnings per share for the current year.

OFG Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, December 31st. OFG Bancorp’s dividend payout ratio (DPR) is 27.27%.

Institutional Trading of OFG Bancorp

Large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in OFG Bancorp in the third quarter valued at approximately $53,000. EverSource Wealth Advisors LLC lifted its position in OFG Bancorp by 250.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,533 shares of the bank’s stock valued at $66,000 after acquiring an additional 1,095 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of OFG Bancorp in the second quarter valued at approximately $97,000. Quarry LP grew its holdings in OFG Bancorp by 458.9% during the first quarter. Quarry LP now owns 2,666 shares of the bank’s stock worth $107,000 after buying an additional 2,189 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of OFG Bancorp in the 2nd quarter worth $162,000. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wells Fargo & Company decreased their price objective on shares of OFG Bancorp from $48.00 to $43.00 and set an “equal weight” rating on the stock in a report on Monday, October 27th. Wall Street Zen raised shares of OFG Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, July 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of OFG Bancorp in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods decreased their price objective on OFG Bancorp from $51.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. Finally, Zacks Research upgraded OFG Bancorp to a “hold” rating in a report on Friday, October 10th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, OFG Bancorp currently has an average rating of “Moderate Buy” and an average price target of $47.17.

OFG Bancorp Company Profile

OFG Bancorp, a financial holding company, provides a range of banking and financial services. It operates through three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, and individual retirement accounts; certificate of deposits, as well as time deposit products; commercial, consumer, auto leasing, and mortgage lending services; credit cards; cash management; financial planning and insurance services; and corporate and individual trust, and retirement services.